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Dec 31, 2024
Hesai Q4 2024 Earnings Report
Hesai reported revenue growth and returned to profitability in Q4 2024.
Key Takeaways
Hesai Group's Q4 2024 revenue increased by 28.3% to $98.6 million. The company achieved a net income of $20.1 million, reversing the loss from the prior year. Operating income improved significantly to $14.6 million. Cash and cash equivalents increased to $439.1 million.
Revenue increased 28.3% year-over-year to $98.6 million.
Net income reached $20.1 million, reversing a net loss from the previous year.
Operating income rose to $14.6 million due to higher lidar shipments and increased demand.
Cash and cash equivalents grew to $439.1 million, reflecting improved financial stability.
Forward Guidance
Hesai expects significant revenue growth in 2025, driven by increased lidar adoption and expansion into new markets.
Positive Outlook
- Forecasted revenue growth of 44% to 69% in FY25.
- Expected GAAP profitability between $27M and $48M in FY25.
- Expansion of lidar adoption across automotive and robotics industries.
- New production lines expected to increase capacity to 2 million units annually.
- Exclusive lidar design win with a major European OEM, extending into the next decade.
Challenges Ahead
- Potential margin pressure due to increased production costs.
- Competitive pricing in the lidar market could impact profitability.
- Macroeconomic uncertainties affecting automotive sector growth.
- Risks associated with supply chain disruptions and component shortages.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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